Sanctioning Apartheid - KORA

Table 7
South African external debt at the end of 1986 by currency
and sector of the debtor economy lin US$ billion)
Public Sector
Currency Total Botrds Public Bank &
Authorities Pfinrrk
b Stxton
US$
DM
UKL
swfr
Frfr
Japan Y
Other
Total
Sorucerr Total debt by currency: Sauth African Reserve Bank quoted
in ESKOM hq&t in the hemn Zeibng ( ~ ~ 23 December ) ,
1987; Bonds: Bonds are &mst entidy public sector £mmcbg, for
either pub& authorities or public mrporations (see note d in Table
6); Pvblic hthon'fis mrd Public CoJpomfJons: Told debt guaranteed
by the Swth Afria pvemmmt, Gonernnrent Gcaefte, No. 10930, p.
13,25 SeptembeF 1487, for 31 March 1987, less bonds.
Total Debt Fore Banks
At the end of 1986, the total debt to foreign banks was $16.1
billion, of which $7.2 billion was the debt of South &can banks.
It should be remembad that this interbank debt was the
principal cause of the debt moratorium of 1985, because South
African banks had been borrowing excessively in the short term
interbank market to finance long term capital lending in South
Afria When this short term debt began to be withdram" the
resulting liquidity aisis fod the calling of the moratorium
The portion of these debts that represents trade credits is
impossible to ascertain. This is so because what in times of gad